Directors of over 500,000 active companies in India have been mandated to submit themselves to an electronic tracking system by June-end this year.
The ministry of company affairs has fixed June 30 as the deadline for the tracking system, involving a director identification number.
According to officials in MCA, a little over 500,000 companies of the 715,000 companies registered with the registrar of companies are active. The rest either inactive or have chosen to leave under the exit scheme introduced by the ministry.
DIN is a unique identification number for an existing director or a person intending to become one, and is a part of the government's e-governance project MCA21.
The MCA had earlier said DIN would help check offences committed by directors, and address concerns like companies vanishing after raising public funds.
The Coimbatore RoC was the first centre chosen for the implementation of the MCA21 project. The New Delhi centre will begin implementing the project later in the month, and the whole country is to be covered by the end of April. The MCA has cleared a move to set up 53 temporary physical front offices to facilitate the filing of documents in electronic form.
MCA21 has also brought legacy data into its fold. Government sources said most of the legacy data had already been digitised. The MCA21 project has located its disaster recovery centre in Chennai.
The project is being implemented by Tata Consultancy Services on a build, operate, and transfer basis.Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Discussion Group
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